Accounting, Auditing and Control

About the course

This course covers topics related to financial reporting, how management accounting can be used to create value in companies, financial statement analysis and auditing. The course is given and examined in English.

The course consists of four modules:

Module 1. Advanced Financial Statement Analysis and Valuation, 7.5 credits
The module aims to provide students with relevant theories, methods and models for valuing companies and their securities, primarily equity (common stock). The module deals with the analysis of financial statement information and the use of this information for business strategy analysis, performance evaluation and investment decisions. Accounting and discounted cash flow approaches to valuation are discussed as are forecasting of dividends, earnings, cash flows and pro forma analyses. During the module, students will also be introduced to the code of academic conduct, e.g. referencing and avoidance of plagiarism and cheating.

Module 2. Advanced Management Accounting, 7.5 credits
Management accountants are strategic financial management professionals who integrate accounting expertise with advanced management skills to drive business performance, with the postulate that the sustainability of a firm depends on its ability to recognize and benefit from its value drivers. With a solid theoretical framework, the course addresses modern issues in management control and performance measurement. The focus is on the enhancement of shareholder value through customer-driven value creation from a value-based management perspective. A second purpose of the course is to enhance students' knowledge and analytical skills related to the way managers design, and utilize planning and management control systems to implement strategies. Techniques of the management control process are studied, and behavioural considerations are discussed. The management accounting systems studied should provide information on the value drivers of organizations, to assist in aligning the self-interests of management with long-term shareholder wealth. The students will also become aware of the varied and changing roles of the management accountant. During the module, students will also be introduced to methods of working in international teams. The contents of the course are intended to prepare the students toward the FMAA (Financial and Managerial Accounting Associate) and the CMA certification (Certified Management Accountant), both delivered by the IMA (Institute of Management Accountants).

Module 3. Advanced Financial and Sustainability Reporting, 7.5 credits
The module develops students' abilities to prepare and analyse financial and sustainability reports. It focuses on the reporting in large companies and develops students' abilities to handle also more complicated accounting issues. The module covers financial and sustainability reporting from an international perspective as it focuses on the International Financial Reporting Standards and sustainability standards used in the European Union.

Module 4. Advanced Auditing, 7.5 credits
This module aims to give students a solid theoretical and practical foundation in auditing. It covers central topics of auditing, such as, risk and materiality assessment, the planning of auditing, the auditing process and auditors' reporting. Professional ethics and independence issues are also discussed during the course module. The course module is principally based on the International Standards of Auditing (ISAs).

More information about the course and its structure can be found in the syllabus.